Israel’s fintech regulatory sandbox is expected shortly – the Arrangements Law is being presented to the cabinet.
FinTech Australia is an industry body that works to support the fintech ecosystem in the country. In response to a request for input from the Australian Senate Select Committee on Financial Technology and Regulatory Technology, FinTech Australia has prepared a document with a range of recommendations aimed at supporting the Australian fintech industry given the… Continue reading Australian fintech industry body suggests tax reliefs and government loans
The Commodity Futures Trading Commission (CFTC) has filed securities fraud suits against Compcoin, LLC and Fintech Investment Group, Inc.. The CFTC alleges that these companies solicited customers to buy a digital asset called Compcoin which the companies said would allow customers to gain access to a proprietary foreign exchange trading algorithm called ART and advertised… Continue reading US CFTC files securities fraud lawsuits against cryptocurrency firms Compcoin and Fintech Investment Group
China’s central bank, the People’s Bank of China (the PBOC), launched a pilot programme for FinTech innovation in Beijing in December 2019. This programme allowed FinTech firms to work with the regulator to launch their services in a limited and monitored way. The PBOC is now expanding this fintech sandbox programme to cover six more… Continue reading China expands FinTech sandbox to six new areas, including Shanghai and Shenzhen
The first bitcoin fund in Hong Kong has been launched by Venture Smart Asia’s blockchain arm (Arrano Capital). It is regulated as an Approved Virtual Asset Manager by the Hong Kong Securities and Futures Commission (SFC). The fund is required to comply with the”Proforma Terms and Conditions for Licenced Corporations which Manage Portfolios that Invest… Continue reading Regulated bitcoin fund launches in Hong Kong
South Africa’s cross-regulatory group looking at fintech – the Intergovernmental Fintech Working Group (IFWG) has published a position paper on crypto assets. The IFWG is comprised of members from the National Treasury (NT), South African Reserve Bank (SARB), the Financial Sector Conduct Authority (FSCA) and the Financial Intelligence Centre (FIC). The position paper includes a… Continue reading South Africa looks to increase cryptocurrency regulation
Yapeal, a Swiss digital challenger bank, has been granted Switzerland’s first fintech bank license. The fintech bank license was issued by the Swiss financial services regulator – the Swiss Financial Markets Supervisory Authority (FINMA). The license allows Yapeal to provide individuals with accounts with a Swiss IBAN. The fintech bank license has a cap on… Continue reading Yapeal gets Switzerland’s first fintech bank license
Strong Customer Authentication (SCA) is a new security standard under PSD2. It needs two forms of authentication from the customer.
The Malaysian stock exchange (the Bursa Malaysia) is setting up a subsidiary that will conduct the regulatory functions currently done by Bursa Malaysia. The new subsidiary is expected to start operations in 2020. Bursa Malaysia and the Malaysian securities regulator (the Securities Commission Malaysia”) are working together to prepare for the new launch.
Mexico has issued its first fintech license. The license has been granted to NVIO Pagos Mexico, which is an affiliate of Bitso. Bitso is a cryptocurrency exchange, based in Mexico City and founded in 2014. The license is granted by Mexico’s financial services regulator – the Mexican National Banking and Securities Commission (the CNBV). Over… Continue reading First Mexico fintech license is issued